Tremont investment in the delany company account

Assignment Help Accounting Basics
Reference no: EM13685992

On July 1st 2013 Tremont corporation acquired 35% of the shares of Delaney company training paid three million eighty thousand dollars for the investment and the that amount is exactly equal to 35% of the fair value of identifiable net assets on Delaney's balance sheet Delaney recognized net income of 1 million 1000 for 2013 and paid 340,000 dividends to its shareholders the same net income and dividends evenly throughout the year after all closing entries are made Tremont investment in the Delany company account would have a balance of what

Reference no: EM13685992

Questions Cloud

Analysing conditions under which manager of profitmaximising : Write a 2000 word essay analysing the conditions under which the manager of a profit-maximising firm must decide to shut down its operation. Consider oligopolies, monopolies and perfectly competitive firms.
Calculate the polar moment of inertia : Calculate the polar moment of inertia of an assembly and using the result to predict the periodic time of a trifilar suspension of the assembly.
One reason for the decreased economic volatility : One reason for the decreased economic volatility starting in the 1980s was
The federal reserve makes an open market purchase : The Federal Reserve makes an open market purchase and the change in reserves is the same as the change in the MB. Therefore, the Fed
Tremont investment in the delany company account : Tremont investment in the Delany company account would have a balance of what
Gold standard exchange rate system : Which of the following is true for countries following the gold standard exchange rate system?
What is the price at the profit maximizing quantity : A firm is a monopoly with demand and cost functions given by P = 200 – 2Q and C(Q) = 2,000 + 3Q2 respectively. Show your computations. Compute total cost. Compute total revenue. What is the price at the profit maximizing quantity?
Depreciates against euro and purchasing power parity hold : If the U.S. dollar depreciates against the euro and purchasing power parity holds, would a Big Mac in Europe become more or less expensive? Why? If purchasing power parity doesn’t hold, does an American tourist in Europe pay more or less for a Big Ma..
The dissimilarity between dollarization and currency board : The dissimilarity between dollarization and a currency board is that

Reviews

Write a Review

Accounting Basics Questions & Answers

  Describe the role of the fasb in monitoring and controlling

explain the role of the fasb in monitoring and controlling business reporting and accounting practices in the modern

  Journalize the entry to record the write-off

Jadelis Resources, a computer consulting firm, has decided to write off the $12,500 balance of an account owed by a customer. Journalize the entry to record the write-off.

  Explain include authority and reasoning

Explain the problem with authority and resoning

  Dec 31 recorded the estimated income tax liabilityfor the

illustrate the effects on the accounts and financialstatements of recording the following selected transactions of

  Explain the concept of “business ethics”

Explain the concept of “business ethics”. Critically discuss the term “complex ethical dilemma”. Reviewing the real life situations mentioned in the document Complete Guide to Ethics Management:

  When an order is received by a restaurants computer it is

the following is a description of ordering food through find your food.the customer uses their computer to go to the

  Determining the tax issues

Dave, who is in poor health, already owns about $3 million of property. What tax issues should Dave James consider with respect to the property bequested to him by his wife?

  Determine consolidated net income-transfer prices

Slagle Corporation is a large manufacturing organization. Over the past several years, it has obtained an important component used in its production process exclusively from Harrison, Inc., a relatively small company in Topeka, Kansas. Harrison ch..

  Computing basis in the inventory received

Calculate Suzy's recognized gain or loss on the distribution, if any. Calculate Suzy's basis in the inventory received. Calculate Suzy's basis in land received. The land is a capital asset. Calculate Suzy's basis for her partnership interest after th..

  What did boswell report as net sales

Under these circumstances, what did Boswell report as Net sales and Net accounts receivable on its 1999 through 2003 income statements and balance sheets?

  A company has a minimum required rate of return of 8 it is

a company has a minimum required rate of return of 8. it is considering investing in a project that costs 91116 and is

  Xyz company has an opportunity to purchase an asset that

1 a cost centera.incurs expenses earns revenue and is evaluated using return on investment.b.needs no managerial

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd